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7.01 Key Terms


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Category: Term

 
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Created by: drakon0130
Popular Business sets

 

 


Product:Definition: Marketing element referring to what goods, services, or ideas a business will offer its customers10false
Feature:Definition: A fact about or characteristic of a product20false
Pricing:Definition: A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value30false
Goods:Definition: Tangible objects and materials40false
Planning:Definition: The management function of deciding what will be done and how it will be accomplished50false
Advertising:Definition: Any paid form of nonpersonal presentation of ideas, goods, or services60false
Durable goods:Definition: Tangible items that should last a long time70false
partnersThe activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, _____, and society at large81true
achievingA philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while _____ company goals91true
individualA philosophy of conducting business which involves creating and marketing products that benefit _____ customers as well as contribute to the good of society as a whole101true
peopleThe _____ who buy goods and services111true
Sales promotion:Definition: Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases120false
Publicity:Definition: Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it130false
Producers:Definition: The people who make or provide goods and services140false
Nondurable goods:Definition: Tangible items that are consumed within a short time150false
Standard of living:Definition: The general conditions in which people live; quality of life160false
Personal selling:Definition: The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities170false
Economy:Definition: The system in which people make and spend their incomes180false
Services:Definition: Intangible activities that are performed by other people for money; productive acts that satisfy economic wants190true